Emerald Mutual Fund Advisers Trust Sells 16,573 Shares of AtriCure, Inc. (NASDAQ:ATRC)

Emerald Mutual Fund Advisers Trust reduced its stake in AtriCure, Inc. (NASDAQ:ATRC) by 6.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 255,241 shares of the medical device company’s stock after selling 16,573 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in AtriCure were worth $5,812,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Comerica Bank increased its stake in AtriCure by 70.5% in the first quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock valued at $77,000 after purchasing an additional 1,043 shares in the last quarter. Quest Partners LLC bought a new stake in shares of AtriCure in the 4th quarter valued at $103,000. Virtu Financial LLC acquired a new stake in AtriCure during the 4th quarter worth $213,000. Victory Capital Management Inc. lifted its holdings in AtriCure by 22.9% during the fourth quarter. Victory Capital Management Inc. now owns 6,202 shares of the medical device company’s stock worth $221,000 after acquiring an additional 1,155 shares in the last quarter. Finally, Aigen Investment Management LP grew its stake in AtriCure by 24.0% in the fourth quarter. Aigen Investment Management LP now owns 7,136 shares of the medical device company’s stock valued at $255,000 after acquiring an additional 1,383 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Stifel Nicolaus dropped their price target on AtriCure from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Needham & Company LLC cut their price target on shares of AtriCure from $40.00 to $34.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lowered their price objective on shares of AtriCure from $34.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. BTIG Research cut their price objective on shares of AtriCure from $58.00 to $53.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Finally, Piper Sandler lowered their target price on AtriCure from $65.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, AtriCure has an average rating of “Moderate Buy” and an average target price of $42.44.

AtriCure Stock Up 0.4 %

Shares of ATRC stock opened at $26.24 on Friday. The firm’s fifty day moving average price is $23.54 and its two-hundred day moving average price is $25.27. The company has a current ratio of 4.13, a quick ratio of 2.93 and a debt-to-equity ratio of 0.16. AtriCure, Inc. has a 1 year low of $18.94 and a 1 year high of $44.92. The firm has a market capitalization of $1.25 billion, a P/E ratio of -32.80 and a beta of 1.43.

AtriCure (NASDAQ:ATRC) last released its earnings results on Tuesday, July 30th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.17). AtriCure had a negative return on equity of 8.39% and a negative net margin of 9.33%. The business had revenue of $116.27 million for the quarter, compared to the consensus estimate of $116.24 million. During the same quarter in the previous year, the business earned ($0.12) earnings per share. AtriCure’s quarterly revenue was up 15.2% on a year-over-year basis. On average, equities analysts predict that AtriCure, Inc. will post -0.77 EPS for the current fiscal year.

Insiders Place Their Bets

In other AtriCure news, Director Maggie Yuen sold 3,500 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $24.07, for a total transaction of $84,245.00. Following the sale, the director now directly owns 8,970 shares of the company’s stock, valued at $215,907.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.20% of the company’s stock.

AtriCure Company Profile

AtriCure, Inc develops, manufactures, and sells devices for surgical ablation of cardiac tissue, exclusion of the left atrial appendage, and temporarily blocking pain by ablating peripheral nerves to medical centers in the United States, Europe, the Asia-Pacific, and internationally. The company offers Isolator Synergy Clamps, single-use disposable radio frequency products; multifunctional pens and linear ablation devices, such as the MAX Pen device that enables surgeons to evaluate cardiac arrhythmias, perform temporary cardiac pacing, sensing, and stimulation, and ablate cardiac tissue with the same device; and the Coolrail device, which enables users to make longer linear lines of ablation.